An insurer wants to increase its rates, but the Department of Insurance requires that all rates be filed and approved before they can be used. This best describes which kind of rate regulation?

An insurer wants to increase its rates, but the Department of Insurance requires that all rates be filed and approved before they can be used. This best describes which kind of rate regulation?



A) Prior approval.

B) Mandatory.

C) File and use.

D) Approval.



Answer: A

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